ruebennase

NIFTY50....Wave (A) of ((4)) is done!

NSE:NIFTY   Nifty 50 Index
363 9 5
Hello Traders,
at todays             opening bell a huge gap down occur at NIFTY50, by opening at 10938.20 after closing previous session @ 11016.90! During Fridays trading NIFTY50 was declining over the day and close the marked at 10760! At todays             low at 10736.25 two Fib-levels took place; the 0.382 RT             of wave ((3)), green and the 1.382 FibExt (11171.55 -10878-11117.35)! Two highly respected cluster-zones!
Notice that yesterday a massiv trading volume by Future traders took place (27.91m; and No of traded Contracts @372.169, while today`s Volume and the No. of Contracts was much lighter (@ 18.07m and 240.940)! After comparing my notes to a/d-Ratio, today was one of the lowest since I start writing down, today @ 0.11! Such a low rate of a/d-Ratio normaly occurs just in time at the low or just 1-2 days before reaching the low.
These facts bring my to the following conclusion.
Today wave (A) of wave ((4)) has ended or is close to do so within the next tradingsession at latest. After completing wave (A) an advance to ~10902, which will fit the minimum expectation for a wave b-target within a flat correction or to ~ 11005 (minimum target for a wave b of a triangle) is the expectation from my view! Observe the next sessions and if there is just one moment where you will think..“something is wrong with that move..“ keep in mind that the biggest probable outcome is that we are running in a wave b-pattern! As of yesterday, this move is „not in time“ and it does not satisfied the view of a „harmonic-pattern“!
Stay tuned for the next sessions and be prepared for the unexpected!
Have a great weekend....
ruebennase

Questions and Comments are welcome!
Note!---> This analysis can be wrong. It is just in my view the one with the most probabiltity with the Data which are available to me and by my interpretation of the EW Theory. If you trade this it is done by your own risk and decision! Keep that in Mind!!!!

Data by NSEIndia.com and moneycontrol.com!
Are we currently in iv of A of 4?
Reply
@rsnerella,
H, may a wave 1/A of higher degree! Very uncertain
Regards
Reply
Sir , If It's a Gap Down Tomorrow , What would be the target of an extended Wave-A? (Since the US Markets were down almost 3 Percent Friday )
Does such a Possibility Exist in the first place?
Reply
ruebennase PRO dheerajsood
@dheerajsood,
Wave A is the first move of a corrective pattern. As of a wave 1there is no target for both! The beat way is to count the move at each wave of lesser degree and to measure by using Fibo's!
Reply
ruebennase PRO ruebennase
@ruebennase,
The early low was well below the 10666, a wave 4 of lesser degree and more than 1.618 of wave (a)! Look for a bottom, wait and step by sideline how market will develop. I think US Market ahead of a crash! But India is moving in another wave, which may show a sgortterm correction but trend is bullish and focus to the upside.
Reply
rsnerella ruebennase
@ruebennase, Gaps and gaps... Part of Impulsive down (3) of A of 4 done on weekly level? Probable count?
Reply
@rsnerella,
Hello all,
Stock maekets crash worldwide. Hands of market!!!!! No action!
Regards
Reply
rsnerella ruebennase
@ruebennase, Agree, Any alternate count (at higher time frame) that you foresee. Weekly top formed (3) at recent high and wave (4) on weekly running down.
Reply
rsnerella rsnerella
@rsnerella, Are we in iv of A of 4 now on the weekly timeframe?
Reply
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